If you are looking for the best Inside Bar Indicator Mt4, I got good news for you: you can download it here. The download link is on the very bottom of this page.
What Is An Inside Bar Pattern In Forex?
An inside bar is a two-bar pattern. An inside bar pattern can be a bullish a bearish pattern.
Bullish Inside Bar Pattern
A bullish inside bar pattern is made up of a two candlesticks:
- First candlestick is bearish, sometimes called the mother bar.
- Second candlestick is bullish.
- Second bullish candlestick forms within the shadow of the mother bar
Bearish Inside Bar Pattern
A bearish inside bar is also made up of two candlesticks:
- the first candlestick is bullish and it is called the mother bar
- the second candlestick is bearish and it completely contained with the high and low (range) of the mother bar.
Why Trade Inside Bar Patterns In Forex?
There’s one main reason why forex traders use inside bar patterns to trade and I will explain.
Inside bars show a period of consolidation in the market.
If you were to see a inside bar pattern on a daily chart and if you were to switch to a smaller timeframe like the 1hr or the 30 minute chart to see what it would look like, you’d most likely see a “triangle” chart pattern.
Inside bars tend to form after a strong price move, as price consolidates or pauses before making the next move in the same direction.
Or on the other end, inside bars can also form on key support and resistance levels and this can indicate that the market may be about to reverse (change direction).
How The Inside Bar Indicator MT4 Works
This mt4 indicator shows you inside bars on your charts when they form. Does this indicator show inside bars in all time frames?
Yes. From the monthly time framed down to the 1 minute time frame this mt4 inside bar indicator shows you all the inside bars that form in any forex chart.
On the USDJPY 4HR chart below, you can see how this mt4 indicator works:
- if an inside bar pattern forms and price breaks it to the downside, you will see a red rectangle.
- if an inside bar pattern forms and price breaks it to the upside, you will see a blue rectangle.
How To Use the Inside Bar Indicator For Trading Forex
The best way to use this inside bar indicator mt4 is to use it as buy and sell signal for the following strategies (I’m going to only list a few):
- inside bar forex trading strategy
- trendline trading strategy
- double bottom chart pattern forex trading strategy
- double top chart pattern forex trading strategy
- ross hook pattern forex trading strategy
- floor traders method forex trading strategy
- fakey forex trading strategy
- trendline retest forex trading strategy
Inside Bar EA (Expert Advisor)
Can you turn this mt4 inside bar indicator into a forex expert advisor?
I think you can. Now, I’m not a software/technical guy but if you are good in that kind of stuff, you can do that yourself. If not, you need to search for a mt4 ea programmer to do it for you. There’s a free inside bar expert advisor here, you can check it out.
MT4 Inside Bar Indicator Download Link
Ok, finally, here’s the download link: PZ_InsideBars